Government may break up British banks

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A Government inquiry into banking reforms will consider breaking up Britain’s
largest high street lenders in a move to increase competition.

The Independent Commission on Banking (IBC) will look at whether to split
investment and retail banking operations as well as options such as forcing
Britain’s “too big to fail” banks to divest assets to address competition
concerns.

It stressed that the commission had not agreed anything, but the chairman Sir
John Vickers said that “hard questions” needed to be asked.

Sir John, who was previously the director-general of the Office of Fair
Trading, said: “Questions about the structure of